Notable Reporting: Is AmerisourceBergen Corp.’s Fuel For Real? The Stock Just Increased Again

November 10, 2016November 10, 2016Richard Conner

The stock of AmerisourceBergen Corp. (NYSE:ABC) is a huge mover today! About 2.85M shares traded hands. AmerisourceBergen Corp. (NYSE:ABC) has declined 11.37% since April 8, 2016 and is downtrending. It has underperformed by 17.02% the S&P500.
The move comes after 5 months positive chart setup for the $20.83B company. It was reported on Nov, 10 by Barchart.com. We have $127.14 PT which if reached, will make NYSE:ABC worth $12.29B more.

AmerisourceBergen Corp. (NYSE:ABC) Ratings Coverage

Out of 15 analysts covering AmerisourceBergen (NYSE:ABC), 6 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 40% are positive. AmerisourceBergen has been the topic of 29 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The rating was downgraded by Zacks on Thursday, August 27 to “Buy”. FBR Capital maintained it with “Mkt Perform” rating and $84 target price in Friday, May 6 report. The company was upgraded on Tuesday, October 4 by Avondale. As per Thursday, February 4, the company rating was maintained by FBR Capital. The rating was maintained by Bank of America on Tuesday, June 7 with “Neutral”. The stock of AmerisourceBergen Corp. (NYSE:ABC) earned “Buy” rating by TheStreet on Monday, July 27. The firm has “Outperform” rating given on Tuesday, November 17 by Credit Suisse. As per Wednesday, November 9, the company rating was upgraded by Mizuho. The stock has “Neutral” rating given by Mizuho on Thursday, August 11. The rating was upgraded by Zacks to “Buy” on Thursday, September 17.

According to Zacks Investment Research, “AmerisourceBergen Corporation provides pharmaceutical services. It distributes brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to various healthcare providers. The Company also provides pharmacy services to certain specialty drug patients. AmerisourceBergen Corporation is based in Chesterbrook, Pennsylvania.”

Another recent and important AmerisourceBergen Corp. (NYSE:ABC) news was published by Benzinga.com which published an article titled: “Extended Contracts Should Boost The Top-Line For AmerisourceBergen Corp” on October 13, 2016.

ABC Company Profile

AmerisourceBergen Corporation, incorporated on March 16, 2001, is a pharmaceutical sourcing and distribution services company. The Company’s divisions include Pharmaceutical Distribution and Other. The Firm provides services to healthcare providers, and pharmaceutical and biotech manufacturers.